Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08), publiziert.
All Firms
The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has appointed Simon Brönnimann as Head of the Recovery and Resolution division and as a member of the Executive Board. He will assume leadership of the division, which he has been leading on an interim basis since April 2026, on a permanent basis from 1 June 2026.
Bank
The Swiss Financial Market Supervisory Authority FINMA is incorporating two existing circulars on risk diversification at banks and securities firms into a new ordinance. In doing so it is fulfilling the requirement for the format compliance of regulation in accordance with Article 7 paragraph 1 of the Financial Market Supervision Act.
BankBroker Dealer
On 12 May 2026, the Swiss Financial Market Supervisory Authority FINMA launched the consultation on the partially revised AMLO-FINMA. The consultation will go on until 9 June 2026.
All Firms
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) publiziert.
All Firms
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Taliban in Verbindung stehen (SR 946.231.07), publiziert.
All Firms
The Swiss Financial Market Supervisory Authority (FINMA) welcomes the dispatch on the revision of the Banking Act, which the Federal Council adopted today. The bill is one of several key measures aimed at strengthening banking stability. In order to achieve the best possible results, FINMA recommends that the measures proposed in the Federal Council’s parameters for amendments to the Banking Act be implemented in their entirety. In particular, it advocates for the strengthening of statutory i...
Bank
At its annual media conference today, the Swiss Financial Market Supervisory Authority FINMA outlined the key areas of its supervision in 2025. It consistently implemented its proportional and risk-based supervisory approach, strengthened the resilience of the institutions under its supervision, and focused on the early detection of emerging risks among those institutions. In its review, it outlined how it protected Swiss financial market clients during the year.
All Firms
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Taliban in Verbindung stehen (SR 946.231.07), publiziert.
BankWealth ManagerAll Firms
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Taliban in Verbindung stehen (SR 946.231.07), publiziert.
BankWealth ManagerAll Firms
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung der Anhänge 12 und 14 der Verordnung vom 12. Dezember 2025 über Massnahmen gegenüber der Islamischen Republik Iran (SR 946.231.143.6) publiziert.
This FINMA publication announces updates to Annexes 12 and 14 of the Swiss Ordinance on Measures against the Islamic Republic of Iran (SR 946.231.143.6), effective April 14, 2026, reflecting changes to the SECO Sanctions Management (SESAM) database by the State Secretariat for Economic Affairs (SECO). It matters because Swiss financial intermediaries must immediately freeze assets of newly or amended sanctioned entities and report to SECO, while continuing AML due diligence under the Anti-Money Laundering Act (GwG), to avoid supervisory enforcement.[User Query]
What Changed
- - Amendments to Annexes 12 and 14 of the Ordinance SR 946.231.143.6, updating the list of sanctioned persons, companies, and organizations in the context of Iran sanctions.[User Query]
- Updates propagated to the SESAM database, published on the WBF/SECO website.[User Query]
- Standard requirements reiterated: Implement prohibitions, freeze assets of sanctioned parties, and report affected business relationships to SECO; SECO reporting does not exempt additional GwG Art.
Suggested Considerations
- Screen client portfolios, accounts, and transactions against the updated SESAM database and Annexes 12/14 immediately.
- Freeze assets of any newly sanctioned or amended persons/entities without delay.
- Report all affected business relationships to SECO promptly.
- Conduct enhanced due diligence under GwG Art. 6 for any suspicion; if unresolved, file a suspicious activity report (SAR) with MROS under GwG Art. 9.
- Monitor FINMA's MyFINMA portal and website for ongoing updates; update internal sanctions screening systems.[User Query]
Key Dates
- WBF publishes changes to Annexes 12 and 14 and updates SESAM database.
- Changes enter into force; asset freezes and prohibitions become mandatory.
Compliance Impact
Urgency: High – Effective immediately (as of April 14, 2026, 23:00 UTC), non-compliance risks FINMA coercive measures under administrative law, including fines, supervisory proceedings, or license revocation. Matters due to frequent Iran sanctions updates (e.g., prior changes in March 2026, October 2025), heightened geopolitical risks post-2015 JCPOA unwind, and dual SECO/MROS reporting obligations amplifying AML exposure.[User Query]
AI-generated analysis. May contain errors or omissions — verify with the
original FINMA source
before acting. Full disclaimer.
BankAsset ManagerWealth Manager
A survey of banks conducted by the Swiss Financial Market Supervisory Authority FINMA shows that there is a need for action in addressing digital fraud risks, particularly in the areas of operational risk management and preventing money laundering. FINMA published its findings today in a new guidance.
BankFintechPayment Provider
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
This FINMA publication announces updates to the Swiss Ordinance on Measures in Connection with the Situation in Ukraine (SR 946.231.176.72), specifically the removal of 7 natural persons from Annex 8 on March 19, 2026, effective March 20, 2026, 23:00 UTC. It matters for Swiss financial firms as it requires immediate review of sanctions screening processes to lift any prior asset freezes on these delisted individuals while maintaining vigilance against ongoing Ukraine/Russia sanctions risks, ensuring compliance with SECO and FINMA expectations.
What Changed
- - Amendment to Annex 8 of SR 946.231.176.72 by the Federal Department for Economic Affairs, Education and Research (WBF) on March 19, 2026, removing 7 natural persons from the sanctions list.
- Update to the official Swiss sanctions database SESAM (SECO Sanctions Management), published urgently on SECO's website.
- This delisting narrows the scope of asset freeze obligations under the ordinance, but core prohibitions on transactions, asset blocking, and reporting for remaining listed parties persist.
Suggested Considerations
- Screen client databases and transaction records against the updated SESAM database to identify and release any asset freezes or restrictions on the 7 delisted persons, confirming no residual sanctions apply.
- Report any affected business relationships to SECO as per ordinance requirements; conduct additional due diligence under Art. 6 GwG if suspicions remain, and file SARs with the Money Laundering Reporting Office Switzerland (MROS) under Art. 9 GwG if unresolved.
- Update internal sanctions screening tools, policies, and staff training to reflect the SESAM changes; document all reviews for audit trails.
- Monitor FINMA's news and MyFINMA for further updates, as lists are continuously revised.
Key Dates
- WBF amends Annex 8, removing 7 natural persons
- Changes enter into force; firms must adjust compliance systems accordingly
Compliance Impact
Urgency: High - Immediate action required post-20 March 2026 to avoid erroneous ongoing freezes (risking client claims) or premature releases (violating sanctions); non-compliance risks fines up to CHF 540,000 or imprisonment, with SECO referrals to prosecutors for severe cases, amid CHF 7.4 billion in frozen assets as of April 2025. This reinforces the need for real-time sanctions monitoring in a dynamic regime aligned with EU/UN measures.
AI-generated analysis. May contain errors or omissions — verify with the
original FINMA source
before acting. Full disclaimer.
BankWealth ManagerAll Firms
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08), publiziert.
BankWealth ManagerAll Firms
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08), publiziert.
BankWealth ManagerAll Firms
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
The Swiss Federal Department of Economic Affairs, Education and Research (WBF) amended Annex 8 of the Ordinance on Measures in Connection with the Situation in Ukraine (SR 946.231.176.72) on March 19, 2026, removing 7 natural persons from the sanctions list. This update requires financial intermediaries to immediately review and adjust their sanctions screening processes, as it directly impacts asset freeze obligations and reporting under Swiss sanctions regime.
What Changed
- - Removal of 7 natural persons from Annex 8, which lists designated individuals subject to asset freezes and other restrictive measures related to the Ukraine situation.
- Update to the SESAM sanctions database (SECO Sanctions Management), Switzerland's authoritative list aligned with EU sanctions.
- No new designations or additional prohibitions introduced; this is a delisting that narrows the scope of sanctions application.
Suggested Considerations
- Screen and release assets: Review client portfolios and frozen assets linked to the 7 delisted persons; release any previously frozen assets unless other sanctions apply (e.g., via GwG AML checks).
- Update internal systems: Refresh sanctions screening tools with the latest SESAM data to avoid erroneous freezes or compliance breaches.
- Report to SECO if applicable: If assets were frozen and are now releasable, notify SECO of prior relationships; conduct GwG Art. 6 due diligence and report suspicions to the Money Laundering Reporting Office (MROS) under Art. 9 GwG if unresolved.
- Document changes: Maintain audit trails of screening adjustments to demonstrate compliance with ongoing supervisory obligations.
Key Dates
- WBF amends Annex 8 and publishes the update
- Changes enter into force; sanctions screening and asset handling must reflect delistings immediately thereafter
Compliance Impact
Urgency: Medium - The delisting reduces sanctions exposure but demands prompt action to unfreeze assets and update controls, as delays could lead to improper asset retention (potential liability) or missed opportunities for clients. Given the effective date was yesterday (March 20, 2026), firms must act today to align with FINMA expectations; non-compliance risks enforcement under administrative law.
AI-generated analysis. May contain errors or omissions — verify with the
original FINMA source
before acting. Full disclaimer.
BankWealth ManagerPayment Provider
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Liste der sanktionierten natürlichen Personen, Unternehmen und Organisationen der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Gruppen, die mit den Taliban in Verbindung stehen (SR 946.231.07), publiziert.
BankWealth ManagerAll Firms
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung der Anhänge 3, 12, 13 und 14 der Verordnung vom 12. Dezember 2025 über Massnahmen gegenüber der Islamischen Republik Iran (SR 946.231.143.6) publiziert.
Switzerland's State Secretariat for Economic Affairs (WBF) has updated sanctions targeting the Islamic Republic of Iran, effective March 10, 2026 at 23:00 UTC, modifying annexes 3, 12, 13, and 14 of the Iran sanctions ordinance (SR 946.231.143.6). This represents a comprehensive revision of Iran-related financial restrictions that requires immediate compliance action from all Swiss financial intermediaries to freeze assets, implement prohibitions, and report affected business relationships.
What Changed
- The regulatory update encompasses four substantive modifications:
- Annex 3: Expansion of the goods list subject to export/import restrictions
- Annexes 12, 13, and 14: Updates to the list of sanctioned persons, enterprises, and organizations subject to asset freezing and transaction prohibitions
- SESAM Database: The Swiss sanctions management database (SECO Sanctions Management) has been updated to reflect all changes, published urgently on the WBF website
The changes represent a total...
Suggested Considerations
- *Implement Prohibitions: Execute all transaction bans and restrictions specified in the updated ordinance annexes
- *Asset Freezing: Immediately freeze all assets and funds of sanctioned persons, enterprises, and organizations identified in the updated SESAM database
- *Mandatory Reporting to SECO: Report all affected business relationships to the State Secretariat for Economic Affairs within required timeframes
- *Enhanced Due Diligence: Conduct additional investigations under Article 6 of the Anti-Money Laundering Act (GwG) when suspicious indicators arise
- *Suspicious Activity Reporting: If enhanced due diligence cannot eliminate suspicions, file mandatory reports with the Money Laundering Reporting Office (Meldestelle für Geldwäscherei) under Article 9 GwG without delay
Key Dates
– WBF published updated sanctions list and modified SESAM database
– Effective date for all regulatory changes (enforcement begins)
– Financial intermediaries must implement prohibitions and freeze assets upon effectiveness
Compliance Impact
Urgency Rating: CRITICAL
AI-generated analysis. May contain errors or omissions — verify with the
original FINMA source
before acting. Full disclaimer.
BankWealth ManagerPayment Provider Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
BankWealth ManagerAll Firms
In enforcement proceedings against MBaer Merchant Bank AG that FINMA concluded three weeks ago and which were recently pending before the Swiss Federal Administrative Court, FINMA had withdrawn the bank's licence. As part of the proceedings, FINMA ascertained that the bank does not have an adequate structure in place for combating money laundering, thus enabling clients to circumvent official asset freezes. The bank has now withdrawn its appeal against the FINMA proceedings, meaning that FINM...
Bank
The US Financial Crimes Enforcement Network (FinCEN) announced today that it considers MBaer Merchant Bank AG to be a financial institution of primary money laundering concern. FINMA is in contact with the bank and FinCEN in connection with the case. The enforcement proceedings previously concluded by FINMA against the bank are currently pending before the Federal Administrative Court. FINMA has appointed an audit agent at the bank.
Bank
Der Bundesrat hat am 25. Februar 2026 beschlossen, die weiteren Massnahmen des 19. Sanktionspakets der Europäischen Union (EU) gegenüber Russland zu übernehmen. Die neuen Massnahmen treten am 26. Februar 2026 in Kraft.
Switzerland's Federal Council adopted additional measures from the EU's 19th sanctions package against Russia and Belarus on February 25, 2026, effective immediately on February 26, 2026, expanding asset freezes to approximately 2,600 persons, entities, and organizations. This matters for Swiss financial intermediaries as it introduces new prohibitions on crypto services to Russian nationals and firms, transactions with ruble-pegged stablecoins like "A7A5", and extended bans on specialized messaging services for payments, alongside trade restrictions, requiring urgent asset screening and reporting to SECO.
What Changed
- - Crypto Restrictions: Complete ban on providing any crypto services to Russian nationals and companies; prohibition on transactions involving specific ruble-backed crypto assets, such as the...
- Payment Systems: Expansion of bans on using certain specialized messaging services for payment traffic.
- Trade/Goods Bans: Expanded list of goods contributing to Russia's military/technological strengthening, including metals for weapon systems, fuel production products, and acyclic hydrocarbons (key...
- Sanctions List Expansion: Builds on December 12, 2025 addition of 64 persons/organizations; Swiss list now aligns fully with EU's, covering ~2,600 targets subject to asset freezes related to Ukraine...
- Related EU 19th package details (adopted by Switzerland) include sanctions on Rosneft/Gazprom Neft, shadow fleet ships, new banks, payment systems like Mir/SPFS, and import bans on LNG/acyclic...
Suggested Considerations
- Implement all prohibitions immediately: Block crypto services to Russian nationals/companies; halt transactions with ruble-pegged stablecoins like A7A5; cease use of banned messaging services for payments.
- Screen and freeze assets of sanctioned persons/entities (~2,600 total); report affected business relationships to SECO.
- Conduct additional due diligence under Art. 6 GwG on suspicions; if unresolved, file immediate suspicious activity report to money laundering reporting office under Art. 9 GwG (SECO report does not exempt this).
- Update sanctions screening tools, client onboarding, and transaction monitoring for new crypto/trade restrictions; review exposures to energy/finance goods listed.
Key Dates
- Initial adoption of partial 19th package measures, adding 64 persons/organizations to Swiss sanctions list
- Entry into force of December 2025 sanctions expansions (related prior update)
- New measures from EU 19th sanctions package enter into force in Switzerland
Compliance Impact
Urgency: Critical - Effective today (26 February 2026), requiring immediate asset freezes, service halts, and SECO reporting to avoid violations punishable by fines up to CHF 540,000 or 5 years imprisonment (severe cases referred to federal prosecutor); GwG suspicions add AML reporting layers with CHF 100,000 fines for non-reporting. Crypto bans directly target growing evasion risks, amplifying exposure for digital asset firms amid Russia's war economy circumvention tactics.
AI-generated analysis. May contain errors or omissions — verify with the
original FINMA source
before acting. Full disclaimer.
BankPayment ProviderCrypto Exchange
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 25. Mai 2025 über Massnahmen gegenüber Sudan (SR 946.231.18) publiziert.
This FINMA publication announces an update to the Swiss sanctions list for Sudan following changes by the UN Sanctions Committee on February 24, 2026, directly incorporated into Switzerland's SESAM database by SECO on February 25, 2026. It matters because financial intermediaries must immediately freeze assets of newly listed parties and report to SECO, while continuing AML due diligence under the GwG (Anti-Money Laundering Act), to avoid enforcement risks from non-compliance with Embargo Act (EmbG) obligations.
What Changed
- - The UN Sanctions Committee for Sudan amended its list of sanctioned natural persons, companies, and organizations on February 24, 2026.
- SECO updated the SESAM (SECO Sanctions Management) database and published the changes on its website on February 25, 2026.
- This triggers direct applicability in Switzerland under the Federal Council's 2016 ordinance for automatic adoption of UN sanctions lists, amending Annex of SR 946.231.18 (Ordinance on Measures...
- Financial intermediaries are required to implement prohibitions, freeze assets, and report affected business relationships to SECO; SECO reporting does not exempt AML suspicions under Art.
Suggested Considerations
- Screen client portfolios, accounts, and transactions against the updated SESAM Sudan list via SECO's website or MyFINMA notifications.
- Freeze (block) assets of any matches and implement transaction prohibitions per the ordinance.
- Report affected business relationships to SECO promptly.
- Conduct additional due diligence under Art. 6 GwG for suspicions; if unresolved, file immediate suspicious activity report to the Money Laundering Reporting Office Switzerland (MROS) under Art. 9 GwG.
- Monitor FINMA's sanctions page for ongoing updates: https://www.finma.ch/en/documentation/international-sanctions-and-combating-terrorism/international-sanctions-and-independent-freezing-measures/.
Key Dates
- UN Sanctions Committee amends Sudan list
- SECO updates SESAM database and publishes on its website; changes directly applicable in Switzerland
- Financial intermediaries must freeze assets and report to SECO; no fixed deadline specified, but "unverzüglich" (without delay) for GwG AML reporting if suspicions persist
Compliance Impact
Urgency: High - Changes are directly applicable with no grace period, requiring immediate asset freezes and reporting to mitigate FINMA enforcement risks (e.g., coercive measures under administrative law). Non-compliance exposes firms to supervisory sanctions, reputational damage, and potential criminal liability under EmbG/GwG, especially amid frequent UN list updates (e.g., recent February 18 change). Firms with Sudan exposure or high-risk clients must prioritize automated screening tools and training.
AI-generated analysis. May contain errors or omissions — verify with the
original FINMA source
before acting. Full disclaimer.
BankAsset ManagerWealth Manager Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen des Anhangs 8 der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
On February 23, 2026, Switzerland's State Secretariat for Economic Affairs (SECO) updated Annex 8 of the Ukraine Sanctions Ordinance (SR 946.231.176.72), with changes taking effect on February 24, 2026 at 11:00 PM UTC. This represents the latest iteration of Switzerland's Russia sanctions regime, requiring financial intermediaries to immediately implement new prohibitions, freeze assets of designated persons, and report affected business relationships to SECO—with mandatory additional due diligence under anti-money laundering law if suspicions cannot be resolved.
What Changed
- The February 2026 update to Annex 8 of the Ukraine Sanctions Ordinance introduces modifications to Switzerland's designated persons and entities list related to Russia sanctions.
- 22 natural persons and 42 companies/organizations subject to asset freezes and supply prohibitions
- 116 vessels (primarily tankers in Russia's shadow fleet circumventing oil price caps) subject to purchase, sale, and service prohibitions
- 45 companies in third countries subject to stricter export controls targeting critical goods for Russia's military-industrial complex
- 5 Russian banks and 4 foreign branches subject to transaction prohibitions due to use of Russian payment systems
Suggested Considerations
- *Implement all prohibitions specified in updated Annex 8 across all business lines and customer relationships
- *Freeze assets of all newly designated natural persons and entities; block transactions with designated entities
- *Report to SECO all affected business relationships within required timeframes, documenting:
- Customer identification and beneficial ownership
- Transaction history with designated parties
Key Dates
– SECO publishes Annex 8 amendments on its website
– Changes take effect; financial intermediaries must immediately implement all prohibitions
– New organizational obligations under revised Money Laundering Act (GwG) requiring sanctions violation prevention measures take effect
Compliance Impact
Urgency: CRITICAL
AI-generated analysis. May contain errors or omissions — verify with the
original FINMA source
before acting. Full disclaimer.
BankWealth ManagerPayment Provider Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat den Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) geändert.
The Swiss Federal Department for Economic Affairs, Education and Research (WBF) has amended Annex 2 of the Ordinance of 25 May 2005 on Measures against Sudan (SR 946.231.18), updating Switzerland's sanctions list in alignment with UN and international developments. This matters for Swiss financial institutions as it imposes immediate asset freeze and reporting obligations on newly designated individuals and entities linked to threats against Sudan's peace and security, including RSF support and mercenary activities. Compliance teams must screen and act swiftly to avoid FINMA enforcement under supervisory law.
What Changed
- - Amendment to Annex 2 of SR 946.231.18 by WBF, adding seven individuals to the Sudan sanctions list, mirroring recent UN-aligned updates (e.g., UK additions on 5 February 2026 for persons like...
- Sanctions include asset freezes, prohibitions on dealings with designated persons' funds or economic resources, and mandatory reporting to authorities, consistent with Switzerland's implementation of...
- Updates reflect global coordination, with UNSC Resolution 2791 (2025) extending the Sudan regime to 12 October 2026, emphasizing targeted measures against human rights violations, humanitarian...
Suggested Considerations
- Immediate screening: Review client databases, transactions, and assets against updated Annex 2 for the seven new designations; freeze any matching funds or resources without delay.
- Reporting: Notify FINMA or relevant authorities (e.g., State Secretariat for Economic Affairs SECO) of any holdings or suspicions; relevant firms must report to OFSI equivalents in Switzerland.
- No dealings: Cease all transactions, payments, or benefits to/from designated persons unless licensed; maintain records for 10+ years per Embargo Act.
- Controls update: Enhance sanctions screening tools, train staff, and audit AML/sanctions programs for Sudan-specific risks like RSF financing or mercenaries.
- Licensing check: Apply for exceptions via SECO if needed for humanitarian or existing obligations.
Key Dates
- UK adds six individuals to Sudan sanctions list (e.g., SUD0026 to SUD0031), informing Swiss alignment
- Switzerland publicly notes addition of seven individuals to Sudan list via ACAMS report
- WBF amends Annex 2 of SR 946.231.18, effective immediately for compliance (publication date)
- UN Panel of Experts interim report due on Sudan sanctions implementation
- UNSC Sudan sanctions regime extension expires unless renewed
Compliance Impact
Urgency: High - Immediate asset freeze obligations apply from publication (19 February 2026), with FINMA's enforcement powers (coercive measures under administrative law) risking fines, reputational damage, or license revocation for non-compliance. This escalates amid ongoing Sudan conflict, UN extensions, and multi-jurisdictional alignment, heightening cross-border transaction risks.
AI-generated analysis. May contain errors or omissions — verify with the
original FINMA source
before acting. Full disclaimer.
BankAsset ManagerWealth Manager Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat den Anhang der Verordnung vom 10. April 2024 über Massnahmen gegenüber Personen und Organisationen, welche die Hamas oder den Palästinensischen Islamischen Dschihad unterstützen (SR 946.231.09), geändert.
BankWealth ManagerAll Firms
The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has appointed Alain Girard as the new Head of its Banks division. The current Head of the Recovery and Resolution division will take up his new role on 1 April 2026. He succeeds Thomas Hirschi, who left FINMA at the end of August 2025. Simon Brönnimann, who oversaw the Banks division on an interim basis, will now assume leadership of the Recovery and Resolution division on an interim basis.
BankWealth ManagerAsset Manager
More attractive working conditions and lower operating costs per workstation: FINMA will relocate its Zurich office from the city centre to Zurich-Oerlikon in autumn 2026.
BankAsset ManagerWealth Manager
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
On January 29, 2026, Switzerland's State Secretariat for Economic Affairs (SECO) reduced the price cap on Russian crude oil from USD 47.6 to USD 44.1 per barrel, effective February 1, 2026. This adjustment tightens existing sanctions enforcement and requires Swiss financial intermediaries to immediately implement updated compliance controls and reporting obligations under the Ukraine Sanctions Ordinance (SR 946.231.176.72).
What Changed
- The primary regulatory change is a downward adjustment of the Russian crude oil price cap:
- Previous cap: USD 47.6 per barrel
- New cap: USD 44.1 per barrel
- Effective date: February 1, 2026
This modification targets Russia's shadow fleet and circumvention mechanisms.
Suggested Considerations
- *Implement price cap enforcement: Update transaction monitoring systems to flag and block crude oil transactions exceeding USD 44.1 per barrel from Russian sources
- *Asset freezing: Continue blocking assets of sanctioned persons and entities; verify no new transactions circumvent the lower threshold
- *Reporting obligations: Report affected business relationships to SECO in accordance with the Sanctions Ordinance
- *Enhanced due diligence: Beyond SECO reporting, conduct additional investigations under Article 6 of the Money Laundering Act (GwG) when suspicious indicators arise
- *Suspicious activity reporting: If enhanced due diligence cannot resolve suspicions, file reports with the Financial Intelligence Unit (FIU) under Article 9 GwG without delay
Key Dates
– SECO publishes amended Annex 28 of the Sanctions Ordinance
– New oil price cap (USD 44.1) becomes effective and binding
– Financial intermediaries must implement updated prohibitions and screening procedures
Compliance Impact
Urgency: CRITICAL
AI-generated analysis. May contain errors or omissions — verify with the
original FINMA source
before acting. Full disclaimer.
BankPayment ProviderAll Firms
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 16. Dezember 2022 über Massnahmen betreffend Haiti (SR 946.231.139.4) publiziert.
BankAsset ManagerWealth Manager Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung über Massnahmen betreffend Guatemala (SR 946.231.137.6) publiziert.
BankWealth ManagerAll Firms
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs 2 der Verordnung vom 22. Juni 2005 über Massnahmen gegenüber der Demokratischen Republik Kongo (SR 946.231.12) publiziert.
The Swiss Federal Department for Economic Affairs, Education and Research (WBF) updated Annex 2 of the Ordinance on Measures against the Democratic Republic of Congo (SR 946.231.12) on January 12, 2026, modifying the list of sanctioned persons, companies, and organizations, with changes effective January 13, 2026, at 23:00 UTC. This matters for Swiss financial intermediaries as it triggers immediate asset freezing, reporting to SECO, and potential AML checks under the Anti-Money Laundering Act (GwG), ensuring compliance with Switzerland's implementation of international sanctions via the Embargo Act (EmbG).
What Changed
- - Amendment to Annex 2 of SR 946.231.12, updating the list of sanctioned individuals, entities, and organizations subject to financial restrictions.
- Integration into the SECO Sanctions Management (SESAM) database, with urgent publication on the SECO website.
- Reinforcement of prohibitions: asset freezing, ban on making funds available, and reporting of affected business relationships to SECO; does not exempt from GwG Art. 6 due diligence or Art.
Suggested Considerations
- Screen client portfolios and transactions against the updated SESAM database immediately upon effectiveness.
- Freeze assets of newly listed sanctioned parties and prohibit making funds/resources available.
- Report affected business relationships to SECO without delay.
- Conduct GwG Art. 6 due diligence on suspicions; file Art. 9 reports to the Money Laundering Reporting Office if unresolved.
- Monitor MyFINMA for FINMA alerts and update internal sanctions screening tools.
Key Dates
- WBF publishes amendment to Annex 2
- Changes enter into force; immediate implementation required
- Related EU sanctions extended to this date (Swiss alignment expected)
Compliance Impact
Urgency: High - Immediate effect from January 13, 2026, 23:00 UTC demands rapid screening and freezing to avoid EmbG violations, which can trigger FINMA enforcement (e.g., fines, license actions). Matters due to sanctions lists' frequent updates (e.g., prior May 2024 change) and overlap with AML obligations, heightening financial crime exposure for DRC-linked assets.
AI-generated analysis. May contain errors or omissions — verify with the
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BankAsset ManagerWealth Manager Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen des Anhangs 1 der Verordnung vom 28. März 2018 über Massnahmen gegenüber Venezuela (SR 946.231.178.5) publiziert.
On January 13, 2026, Switzerland's State Secretariat for Economic Affairs (SECO) updated Annex 1 of the Ordinance on Measures against Venezuela (SR 946.231.178.5), reflecting changes to the list of designated persons and entities subject to Swiss asset freezing measures. This update is critical for Swiss financial institutions and regulated entities as it directly impacts sanctions compliance obligations and requires immediate verification of client and counterparty lists against the revised designations.
What Changed
- The regulatory update modifies the designated persons list under Switzerland's unilateral freezing measures against Venezuela.
- Update their sanctions screening systems with revised designations
- Identify any existing relationships with newly designated or de-designated persons/entities
- Implement immediate asset freezing for any newly added designations
- Cease all transactions with blocked parties unless specifically authorized
Suggested Considerations
- *Immediate Screening: Conduct comprehensive screening of all client and counterparty databases against the updated Annex 1 designations within 24-48 hours of publication.
- *Asset Identification: Identify and document any assets, accounts, or positions held by or on behalf of newly designated persons/entities.
- *Freeze Implementation: Immediately freeze all identified assets and block all transactions involving designated parties.
- *Notification: Report any blocked assets to SECO as required under Swiss sanctions legislation (typically within 10 business days).
- *Transaction Review: Suspend all pending transactions with Venezuela-related counterparties pending compliance verification.
Key Dates
- FINMA ordinance on asset freezing (RS 196.127.85) enters into force at 11 a.m., freezing assets of 37 designated persons
- SECO publishes updated Annex 1 to SR 946.231.178.5 (the update referenced in your query)
- Compliance obligations commence upon publication; no grace period for implementation
Compliance Impact
Urgency: CRITICAL
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BankWealth ManagerAsset Manager Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
The Swiss Federal Department for Economic Affairs, Education and Research (WBF) has published updates to the Ordinance on Measures in Connection with the Situation in Ukraine (SR 946.231.176.72), aligning Swiss sanctions with ongoing international restrictions targeting Russia. This matters for Swiss financial institutions as it reinforces asset freezing and economic resource restrictions, heightening compliance risks amid prolonged geopolitical tensions, with the ordinance valid until at least November 2026.
What Changed
The publication announces amendments to SR 946.231.176.72, though specific details in the notice are limited; it signals ongoing refinements to sanctions measures originally enacted on March 4, 2022. Related documentation indicates persistent expansions, such as broader restrictions on Russian energy sector activities (e.g., prohibiting certain services, financing, and transactions), definitions encompassing financial instruments like derivatives, crypto-assets, and securitizations, and prohibitions on asset management or use except for normal administrative actions by financial institutions.
Suggested Considerations
- Screen clients, transactions, and assets against updated sanctions lists for Russian/Ukrainian designations, focusing on asset freezing (no management/use except administrative actions) and economic resources (no sales, leasing, or financing).
- Block prohibited activities in energy sector, financial services (e.g., derivatives, crypto, guarantees), and related exports/financing; report any frozen assets to authorities.
- Update internal policies, screening tools, and training to reflect changes; maintain records of compliance checks and authorizations (if applicable under Article 11).
- Monitor FINMA's sanctions page for full ordinance text and related guidance.
Key Dates
- Prior amendment effective dates, illustrating pattern of rapid implementation
- Publication of amendments by WBF, triggering immediate review obligations
- Current expiry of ordinance (subject to extension)
Compliance Impact
Urgency: High - Ongoing amendments to this long-standing ordinance (active since 2022) demand immediate screening and blocking to avoid FINMA enforcement, fines, or reputational damage, especially with crypto and energy sector expansions capturing evolving risks. Non-compliance risks asset release violations or facilitation of sanctioned activities, amplified by FINMA's enforcement focus on financial crime.
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original FINMA source
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BankPayment ProviderCrypto Exchange In new guidance, the Swiss Financial Market Supervisory Authority FINMA explains how it assesses the risks associated with the custody of cryptobased assets. The guidance sets out the rules that institutions must abide by in order to keep cryptobased assets safe.
Crypto ExchangeBankFintech
No description available.
The Swiss Federal Council adopted a new ordinance (RS 196.127.85) on 5 January 2026, mandating the immediate freezing of all assets in Switzerland belonging to Nicolás Maduro and 36 associated persons, under the Federal Act on the Freezing and Restitution of Illicit Assets held by Foreign Politically Exposed Persons (FIAA). This precautionary measure prevents asset outflows amid Venezuela's political upheaval, complementing existing sanctions since 2018, and enables future mutual legal assistance for potential restitution to the Venezuelan people. It matters for Swiss financial institutions as it imposes immediate reporting and freezing obligations with severe penalties for non-compliance.
What Changed
- - Immediate asset freeze: All assets of any kind held by the 37 listed persons (Nicolás Maduro and associates) in Switzerland must be frozen without delay; this targets individuals not previously...
- Reporting obligation: Persons and institutions, including financial intermediaries, must report frozen assets or knowledge thereof to the Money Laundering Reporting Office Switzerland (MROS) per FIAA...
- Duration: The freeze is valid for four years until 4 January 2030, unless revoked earlier.
- Legal basis: Enacted under Article 3 FIAA as a "freeze for mutual legal assistance" post-political change, distinct from but additive to 2018 Venezuela sanctions under the Embargo Act.
- Penalties: Non-compliance with freezing may result in up to three years' custody; reporting violations up to CHF 250,000 fine.
Suggested Considerations
- Screen and identify: Immediately review client lists, accounts, and transactions against the ordinance annex listing 37 persons; use FINMA's ordinance publication and Classified Compilation of Federal Law.
- Freeze assets: Block all assets (funds, securities, real estate, etc.) of listed persons; prevent any transfers, payments, or dealings.
- Report to MROS: Notify MROS of frozen assets or relevant knowledge without delay, following FIAA protocols; include details on asset nature, value, and location.
- Internal updates: Update compliance systems, screening tools, and PEP/ sanctions databases; train staff on FIAA obligations.
- Document compliance: Maintain records of screening, freezes, and reports for potential FINMA audits; monitor for updates via FINMA and Federal Council releases.
Key Dates
Ordinance enters into force; immediate asset freezing and reporting required
Asset freeze expires after four years, unless extended or revoked
Compliance Impact
Urgency: Critical. This demands immediate action as the freeze took effect on 5 January 2026 at 11 a.m., with custodial penalties up to three years for failures; given today's date (25 January 2026), firms must confirm compliance now to avoid fines up to CHF 250,000 or enforcement. It heightens AML/sanctions risks amid Venezuela's volatility, overlapping with existing Embargo Act measures, and requires rapid system updates for PEPs.
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original FINMA source
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BankAsset ManagerWealth Manager